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Benefits of Installment loans

Equal monthly payments

Payments clear before you sign

Easy to refinance and extend

Solution for medium term cash needs

No application fee

Quick answer

What is an installment Loan?

This type of credit enables an individual to borrow what they need and pay it back over a fixed period of time. It can help with raising larger amounts of money over a longer time period. For example… Read More

How can I get an installment Loan?

The truth is this is a fairly straightforward process much like applying for most other forms of credit. But before you can even be considered for an instalment loan, you must ask yourself some very important questions… Read More

Installment loan eligibility

Just like with any loan you would receive from a bank or other financial institution there are certain qualifications you must meet in order to be eligible. In most cases pay day loans require the following:

1. The individual must be a US citizen
2. The individual must be 18 years or older
3. The individual must have a checking account eligible for direct deposit
4. The individual must have had steady employment for the past few months

Granted the last 2 qualifications can vary from lender to lender, but the majority of lenders stick to these as standards. Having a checking account eligible for direct deposit is common with online payday loans because that is the way your loan will be given to you. Showing the lender proof of steady employment is important because it assures the online payday loan lender that you will have a way to repay your loan (usually on your next payday).

Advantages of installment loans

Everyday expenses make life difficult and sometimes we know that money is coming in the future but we need it today. Perhaps you just got a job but need money now or maybe you are expecting a bonus in a month or two. Here are some of the reasons you might benefit from an installment loan:

1) More money can be obtained from an installment loan than a payday loan. Because you make a few repayments this means you can borrow more.

2) Before you agree to the loan it will be completely clear how much you are due to repay and when.

3) Loans can be extended easily into a smaller principle and more repayments.

4) Installment loans are suitable for people wanting to borrow money for a few months. They fall between a payday loan and a long term loan.

5) Lending is unsecured, meaning you don’t have to put up any assets to guarantee them.

Popularity of installment loans

Installment loans have exploded in popularity in recent months because of their convenience and ease of arrangement. It only takes a day or 2 to be approved for an installment loan. In the past short term loans could only be arranged at a bricks and mortar address on Main street. These days it can all be done from home and you are free to apply 24/7 without having to wait in line. Our lenders will present you with a repayment plan, interest rate and terms and conditions, and once you agree to it funds will be deposited directly into your bank account right after you agree.

Procedure

It’s a simple matter to get an installment loan. Fill the form stating how much you need and fill other pertinent details. An offer will be made to you outlining repayments and your obligations should you fail to repay on time. Once you agree on an online form, the money will be paid into your account. Thereafter your only obligation is to make the agreed payments on time.